OK.. so what should I counter with?

[cornflower]

My old PPOR is on the market.. llisted a week or so ago.

http://www.realestate.com.au/property-house-nsw-mirrabooka-109559586

We had plans of extending/recladding etc. The inside is all done and it's rented out at $260 a week. Very solid little house with lake glimpses.

Had an offer of $225.. we are listing it for $249. This is pretty low ball compared to the rest of the market up there.. trying to decide what to counter with at the moment.

The potential buyers are actually live across the road.. looking for an investment property. I think they are pretty keen.. they already had a builder friend of theirs go over the place.

I've had much more practice being on the other side of the equation!

 

[CHam]

I suppose that depends on how quickly you need to sell it, what similar properties have sold for and how much you need to get for it.

If you are in no hurry and it has only been on the market for a week or so I would hold your ground.

 

[Anne Parnell]

Hi Cornflower, SugarPrin here !!! Nice to see you again !! How are you? E-mail me at [email protected]. Your e-mails have been bouncing.

Anne x

 

[JWR]

225 is pretty close to asking price imo.

Maybe go round to their place and talk with them.

Say - 'I'd like to sell it to you but its a bit too low unfortunately.' I'm sure they will go higher if they are keen - maybe 240ish.

Most imporant thing though is to get true market value - because maybe you listed too low to begin with. In that case sack the agent and get a new one.

 

[Rolf Latham]

residex reckons 300

ta
rolf

 

[pennyk]

My philosophy with negotiating prices is that your first drop in price should be your largest, and around 1/2 way to what you are prepared to accept (or in the case of a buyer, the opposite way around). Any/ every subsequent drop should be smaller and smaller.

I think its fairly well accepted that you will usually get your best offers early on. So, you need to decide whether you keep it on the market to get a better offer which may not come... or sell it for lower than you would like.

Personally, if you could get them around the $230-235K mark, I would probably accept it.

 

[Jamie M]

My old PPOR is on the market.. llisted a week or so ago.

http://www.realestate.com.au/property-house-nsw-mirrabooka-109559586

We had plans of extending/recladding etc. The inside is all done and it's rented out at $260 a week. Very solid little house with lake glimpses.

Had an offer of $225.. we are listing it for $249. This is pretty low ball compared to the rest of the market up there.. trying to decide what to counter with at the moment.

The potential buyers are actually live across the road.. looking for an investment property. I think they are pretty keen.. they already had a builder friend of theirs go over the place.

I've had much more practice being on the other side of the equation!

Do you have to go back with a counter? Can the REA go back and say, sorry, but the offer needs to be closer to the listed price in order for it to be considered.

That way, if they're interested, they'll come back with their next offer. I doubt they would have entered into negotiations by offering their highest and final price in their first offer. Put it back onto them.

Cheers

Jamie

 

[cornflower]

Hi everyone - thanks so much for your feedback. I eventually settled on $235k for it.. which I'm happy with.